Goldman SachsIn the news
Brent crude opened the week above $108 a barrel, while the rand weakened against major currencies as investors awaited US and South African interest-rate decisions. Analysts warned that sustained high oil prices could add to inflationary pressure.
OIL

Oil prices climb to four-month high as rand gives back recent gains

Oil prices are rising as South Africa’s economy contracts. Could inflation force the Reserve Bank to raise rates?

  • Ashley Lechman
3 min read
A sustained rise in Brent crude towards $120 ((R1944) a barrel could raise fuel prices, inflation and interest-rate pressure in South Africa, while economists differ on whether it would trigger a global recession.
BRENTCRUDE

Oil shock looms: $120-a-barrel forecast sparks stagflation fears for South Africa

Could a sustained rise in Brent crude towards $120 a barrel trigger a global recession?

  • Yogashen Pillay
5 min read